Motor should start and run with no abnormal sounds. Take some fresh gas with, and starter spray, if the bike has been standing for years it probably wont start! Some valve and camchain rattle is ok. Are exhausts original 4:4 (=good)...check for rust UNDER exhausts (rust=discount). Stick your finger in the exhaust and check for rust. Run finger around top of gas tank (rust - expensive). Run motor warm and give it a good blast - check for oil leaks (normal but a bit of a bugger to fix). Check front brakes work and dont stick. Check rubber carb mounts for cracking. Check for originality using a photo downloaded from web. Check for rust under fenders. Ask how they checked oil - (centerstand, oil stick NOT screwed in) and what oil thay used, gives an idea of their SOHC-ability. Check chain and sprockets, wear=discount. Owners manual? - nice to have. Calculate on buying new battery, take one with if you have one to check lights, horn etc. Original paint is good. Original seat is good. Try controls, if stiff -> new cables (=discount). Comment EVERY "problem" you find, make a list. Look at list, squint at sun, spit, pause......and buy it if you like it! Oh, hey, take a camera with!